Cognex Corporation (CGNX) Holdings Boosted by Pacer Advisors Inc.
Pacer Advisors Inc. raised its holdings in Cognex Corporation (NASDAQ:CGNX) by 14.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,574 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,809 shares during the period. Pacer Advisors Inc.’s holdings in Cognex Corporation were worth $1,607,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in CGNX. BlackRock Inc. raised its position in shares of Cognex Corporation by 3.5% during the 2nd quarter. BlackRock Inc. now owns 6,887,038 shares of the scientific and technical instruments company’s stock valued at $584,711,000 after acquiring an additional 231,014 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cognex Corporation by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,734,216 shares of the scientific and technical instruments company’s stock valued at $571,735,000 after acquiring an additional 159,355 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Cognex Corporation by 126.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,342,312 shares of the scientific and technical instruments company’s stock valued at $198,864,000 after acquiring an additional 1,309,047 shares in the last quarter. State Street Corp raised its position in shares of Cognex Corporation by 2.2% during the 2nd quarter. State Street Corp now owns 2,169,073 shares of the scientific and technical instruments company’s stock valued at $184,153,000 after acquiring an additional 45,840 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Cognex Corporation by 1.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,276,853 shares of the scientific and technical instruments company’s stock valued at $140,810,000 after acquiring an additional 15,541 shares in the last quarter. 85.83% of the stock is currently owned by institutional investors.
Shares of Cognex Corporation (NASDAQ:CGNX) traded up $1.44 on Tuesday, reaching $143.36. The company had a trading volume of 397,853 shares, compared to its average volume of 744,053. The company has a market cap of $12,450.00, a P/E ratio of 51.85 and a beta of 1.48. Cognex Corporation has a 52-week low of $57.42 and a 52-week high of $142.70.
Cognex Corporation shares are scheduled to split on Monday, December 4th. The 2-1 split was announced on Monday, October 30th. The newly minted shares will be distributed to shareholders after the closing bell on Friday, December 1st.
Cognex Corporation (NASDAQ:CGNX) last released its quarterly earnings results on Monday, October 30th. The scientific and technical instruments company reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Cognex Corporation had a return on equity of 23.31% and a net margin of 34.77%. The company had revenue of $259.74 million during the quarter, compared to analysts’ expectations of $255.95 million. During the same quarter in the prior year, the business posted $0.61 earnings per share. The company’s revenue for the quarter was up 75.6% compared to the same quarter last year. research analysts anticipate that Cognex Corporation will post 2.77 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.09 dividend. This is a boost from Cognex Corporation’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, November 16th. This represents a $0.36 annualized dividend and a dividend yield of 0.25%. Cognex Corporation’s dividend payout ratio is presently 13.28%.
Several equities research analysts recently issued reports on CGNX shares. Cowen and Company reissued an “outperform” rating and set a $135.00 price target (up from $100.00) on shares of Cognex Corporation in a research report on Tuesday, August 8th. Canaccord Genuity upped their price objective on Cognex Corporation from $95.00 to $120.00 and gave the stock a “hold” rating in a research note on Tuesday, October 31st. Wolfe Research upgraded Cognex Corporation from a “market perform” rating to an “outperform” rating in a research note on Monday, August 14th. Zacks Investment Research upgraded Cognex Corporation from a “hold” rating to a “buy” rating and set a $138.00 price objective for the company in a research note on Wednesday, November 1st. Finally, Robert W. Baird upped their price objective on Cognex Corporation from $100.00 to $124.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 31st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $106.88.
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In related news, Director Theodor Krantz sold 15,000 shares of the firm’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $134.05, for a total transaction of $2,010,750.00. Following the completion of the transaction, the director now owns 26,250 shares of the company’s stock, valued at $3,518,812.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Bruce Robinson J sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $106.50, for a total value of $745,500.00. Following the transaction, the director now directly owns 5,625 shares of the company’s stock, valued at approximately $599,062.50. The disclosure for this sale can be found here. In the last three months, insiders sold 158,991 shares of company stock valued at $19,974,890. Company insiders own 5.60% of the company’s stock.
About Cognex Corporation
Cognex Corporation (Cognex) is a provider of machine vision products that capture and analyze visual information in order to automate tasks, primarily in manufacturing processes, where vision is required. The Company operates through the machine vision technology segment. The Company’s machine vision products are used to automate the manufacture and tracking of discrete items, such as mobile phones, aspirin bottles and automobile tires, by locating, identifying, inspecting and measuring them during the manufacturing or distribution process.
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